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STAT INSIGHT
12%
Percentage of
survey respondents
who think their
financial situation
will deteriorate
over the next 12
months, and the
lowest reading in
more than a year.
Source: Fannie Mae's April National Housing Survey
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CASE-SHILLER INDEXES DOWN
SIXTH STRAIGHT MONTH
By Mark Lieberman, Economist for the Five Star Institute
The Case-Shiller
Home Price Indexes fell
for the sixth straight
month in February with
the 10- and 20-city
indices each dropping
0.8 percent from January,
according to a report in
late April from Standard
& Poor's, which compiles
the indexes. The 10-city
index slid to its lowest
level since May 2003, and
the 20-city index dropped
to its lowest level since October 2002.
Since February 2011, the 10-city index
fell 3.5 percent and the 20-city index fell 3.6
percent. Since peaking in June 2006, the
10-city index is down 50.1 percent. The 20city index is off 49.6 percent since it peaked
in July 2006.
Prices fell in 17 of the 20 cities surveyed,
improving month-over-month in only
Miami, Phoenix, and San Diego.
At the other end
of the scale, prices fell
month-over-month
in Las Vegas for eight
straight months and for
16 of the last 17 months.
The steepest monthover-month decline in
February was 2.5 percent
in both Chicago and
Atlanta.
The January CaseShiller Index reports
were adjusted downward.
January's reports—due to what CaseShiller described as data issues—did not
include Charlotte. With that updated
information, each index fell 1.0 percent in
January instead of the originally reported
0.8 percent. The revised year-over-year
decline for January was 3.6 percent for the
10-city index and 3.5 percent for the 20-city
index instead of the originally reported 3.9
percent and 3.8 percent, respectively.
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